As reported by Bloomberg two bankers from Julius Baer Group Ltd.  are expected to plead guilty in New York on Thursday on accusation of having helped wealthy Americans to evade US taxes. Julius Baer banker Daniela Casadei and Fabio Frazzetto were indicted in 2011 on a conspiracy charge.

Together they are accused of helping more than 180 U.S. clients hide at least $600m in assets from the Internal Revenue Service (IRS). According to Bloomberg they ‘face as long as five years in prison. They made their first appearance Tuesday in a Manhattan federal court, where they pleaded not guilty to a conspiracy charge, and were released on a $1 million bond secured by $250,000 in cash. Prosecutors said they are scheduled to appear Thursday before U.S. District Judge Laura Taylor Swain in Manhattan’.

Thursday could also be the day when Julius Baer gets its deferred-prosecution agreement.